Hurricane Melissa strengthened further after pausing for most of Sunday south of Jamaica, with forecasters fearing the historic storm will lead to a humanitarian and economic disaster across the region. Melissa’s top winds reached 150 miles (240 kilometers) per hour, …
Hurricane Melissa Explodes in Strength, Poses Peril for Jamaica Read More »
HSBC Holdings said on Monday it will book a $1.1 billion provision in its third-quarter results after losing part of an appeal in a long-running lawsuit tied to Bernard Madoff’s Ponzi scheme. HSBC acted as a service provider to several …
HSBC to Take $1.1 Billion Hit After Luxembourg Court Ruling in Madoff Case Read More »
Hong Kong startup Stellerus aims to create a constellation of satellites to become the world’s first provider of three-dimensional wind data provided by the devices, according to the South China Morning Post. Stellerus, founded in 2023 by Hong Kong University …
HK Startup Aims to Launch Satellites for 3D Wind Data, SCMP Says Read More »
AM Best has revised the outlooks to stable from negative and affirmed the Financial Strength Rating (FSR) of A- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a-” (Excellent) of The Farmers Automobile Insurance Association, its wholly owned …
AM Best Revises Outlooks to Stable for Members of Illinois’ Pekin Insurance Group Read More »
A director at a company that sells computer vulnerabilities has been charged with stealing secrets to sell to an unspecified buyer in Russia, according to a court document and people familiar with the matter. Peter Williams was accused of stealing …
Hacking Lab Boss Charged With Seeking to Sell Secrets Read More »
U.S. Google users who won a $425 million jury verdict in a consumer privacy class action last month have asked a federal judge to force the Alphabet unit to forfeit an additional $2.36 billion in profits. The consumers in an …
Consumers Seek $2.36B From Google After Privacy Verdict Read More »
Universal Insurance Holdings, parent company of Florida’s third-largest property insurer, reported an improved bottom line for the third quarter this year, even with a steady increase in policies in recent months. After shedding more than 160,000 policies in the turbulent …
Florida’s Universal P&C Reports Strong Profits, Policy Growth for Q3 Read More »
A dark history long buried under the towering live oak trees and manicured lawns of a country club in Florida’s capital city of Tallahassee is reviving painful memories of the community’s segregated past and fueling some residents’ calls for a …
Plan to Sell Golf Course Built on Slave Graves Sparks Outrage in Florida’s Capital City Read More »
An employee allegedly stole 47 vehicles from an Avis Budget site at an upstate New York airport and rented them out around the region, police said Friday. The car rental company reported to authorities that the vehicles, worth more than …
Employee Accused of Stealing 47 Vehicles From Car Rental Site at Airport Read More »
California Insurance Commissioner Ricardo Lara issued a formal notice asking insurance companies to implement protective measures, including a moratorium on cancellations, for policyholders who may be impacted by the federal government shutdown. According to the California Department of Insurance, the …
California Commissioner Asks Insurers for Policyholder Relief During Shutdown Read More »
